Volcano Winery has enjoyed remarkable success in making and distributing their wine products in native Hawaii and currently import into 24 states on the mainland of the United States. Due to the domestic success of importing into the continuous 48 states, Volcano management has determined that importing into a foreign nation is the next logical expansion. Volcano Winery management has looked extensively at potential international markets and market research has targeted the country of India for their first international venture of exporting wine into a foreign market. Volcano Winery has built their business plan for India expansion based on several of these research market results. These varying market research tools and analysis helped provide the valuable information needed to determine the five W's of marketing: Who, What, Where, Why, and How. A regional and country analysis was conducted to ensure that no viable obstacles obstructing the entry of Volcano Winery into the India market exist, with emphasis upon the economical, geographical, and political environments in which Volcano would be encountering.
Satellite view of Hawaii archipellago (USA). FranÃ...
Volcano Types Diagram
Medicine Lake Volcano from Schonchin Butte, Lava B...Product analysis was also provided by interpreting both internal and external factors that exists within the company and the industry itself, both domestic and international.
Volcano Winery's decision making process would also place significant importance on recognizing the SWOTT analysis provided by market research and management initiatives. By closely interpreting the anticipated results generated by the SWOTT analysis, Volcano management would be better situated to making the initial decisions of expansion possibilities and probabilities. Volcano management would also generate a business plan that incorporates a full operating schedule, with emphasis upon distributor logistics and contingency plans for unaccounted obstacles.
Financial risk management is another key management tool that Volcano Winery will use to determine exactly how dealing with the India foreign government and currency will affect the ease with which...